Each weekday at 9:30 a.m. and 4:00 p.m. Eastern Time, the New York Stock Exchange (NYSE) bell rings out. That sound signals the opening and closing of the stock market for the day. The bell declares when trading can begin for the day and when it must stop. Over the years, ringing the bell has become a festive event. Many people have been invited to do the honors.
The first guest to ring the opening bell in 1956 wasn’t a business leader, politician, or celebrity. It was a 10-year-old boy named Leonard Ross. He earned the honor by winning a television quiz show. Since then, many notable figures have stepped up to the task. These include President Ronald Reagan in 1985, former New York City Mayor Michael Bloomberg, and several movie stars. Even the Muppets have gotten in on the action—Miss Piggy once rang the bell!
The tradition of ringing a bell to open and close the stock market started in the 1870s. At first, only Stock Exchange employees rang the bell. It wasn’t until the 20th century that guests were invited to participate. The very first bell was a Chinese gong. That was replaced by a brass bell in 1903. In the 1980s, the NYSE planned to refurbish its bells and buy a new backup bell. During this process, the original large brass bell was rediscovered, restored, and displayed in the Exchange instead. This bell waits to be used as a backup if needed.
So what is the New York Stock Exchange? For more than 200 years, the NYSE has been the world’s largest marketplace for buying and selling stocks—shares in publicly held businesses. Its purpose is twofold: allowing investors to trade stocks and helping businesses grow by raising money from those investors.
Shares are small pieces of ownership in a company. When an investor buys a share, he or she owns a tiny part of that business. If the business does well, stockholders earn dividends on their investment. But there is a risk. If a business fails, stockholders can lose money. Investing in stocks can be a way to support companies or causes. It can also help people save for the future, like setting up a fund for retirement.
Ringing the NYSE bell is an honor. One can’t just approach the Exchange and ask to ring it. Most bell-ringers are invited for a specific reason, such as being a president or an Olympic athlete. Companies can request to ring the bell, usually to celebrate events like product launches or meeting milestones.
Why? God designed rhythms into His creation. Even the seemingly frantic New York Stock Exchange benefits from an orderly opening and closing—which the bell provides.
